Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the debt to assets ratio high or low?
The debt to assets ratio of 48.28% is 48% above its 5-year average of 32.70%, near the high end of its 5-year range (18.57%–48.28%).
As of the fiscal period ended Tuesday, June 30, 2026. 25.00% above its 12-month average of 38.62%.
Reported quarterly debt to assets ratio; no daily interpolation. Q2 FY2026 (2026-06-30): 48.28%.
DEBT TO ASSETS RATIO
48.28%
DEBT TO ASSETS RATIO AVG TTM
38.62%
DEBT TO ASSETS RATIO AVG 3Y
34.67%
DEBT TO ASSETS RATIO AVG 5Y
32.70%
DEBT TO ASSETS RATIO AVG 10Y
24.90%
DEBT TO ASSETS RATIO AVG 15Y
17.13%
DEBT TO ASSETS RATIO AVG 20Y
12.90%
CURRENT VS TTM AVG
+25.00%
CURRENT VS 3Y AVG
+39.26%
CURRENT VS 5Y AVG
+47.63%
CURRENT VS 10Y AVG
+93.91%
CURRENT VS 15Y AVG
+181.79%
CURRENT VS 20Y AVG
+274.19%
SECTOR MEDIAN · FINANCIAL SERVICES
0.05%
median of 552 covered companies
CURRENT VS SECTOR MEDIAN
+96450.68%
vs the sector median at left
Morningstar, Inc.
Market Cap
$7.29B
Debt to Assets Ratio
48.28%
TTM Avg
38.62%
3Y Avg
34.67%
5Y Avg
32.70%
Market Cap
$7.09B
Debt to Assets Ratio
0.05%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$7.61B
Debt to Assets Ratio
0.03%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$7.79B
Debt to Assets Ratio
0.09%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$6.60B
Debt to Assets Ratio
0.33%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$8.01B
Debt to Assets Ratio
0.07%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
| NAME | MARKET CAP | DEBT TO ASSETS RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Morningstar, Inc. (MORN) | $7.29B | 48.28% | 38.62% | 34.67% | 32.70% |
| TeraWulf Inc. (WULF)vs › | $7.34B | 0.65% | N/A | N/A | N/A |
| Valley National Bancorp (VLY)vs › | $7.09B | 0.05% | N/A | N/A | N/A |
| Kinsale Capital Group, Inc. (KNSL)vs › | $7.61B | 0.03% | N/A | N/A | N/A |
| Galaxy Digital (GLXY)vs › | $7.63B | 0.30% | N/A | N/A | N/A |
| Central Bancompany (CBC)vs › | $7.72B | 0.04% | N/A | N/A | N/A |
| BOK Financial Corporation (BOKF)vs › | $7.79B | 0.09% | N/A | N/A | N/A |
| PIMCO Dynamic Income Fund (PDI)vs › | $6.60B | 0.33% | N/A | N/A | N/A |
| Commerce Bancshares, Inc. (CBSH)vs › | $8.01B | 0.07% | N/A | N/A | N/A |
| Enact Holdings Inc. (ACT)vs › | $6.46B | 0.11% | N/A | N/A | N/A |
Debt/Assets
48.3%
Debt/Equity
1.86
Current ratio and interest coverage is unavailable for Morningstar, Inc.: applicability has not been verified for this financial-services business. The current sector-based policy withholds this model until its treatment of debt, cash and cash flows is confirmed for the company.
Formula: Debt/Assets = Total Debt / Total Assets × 100
Debt/Assets vs Debt/Equity:
Industry context matters: Capital-intensive industries (utilities, real estate) typically have higher Debt/Assets ratios than tech companies.
Debt/Assets ratio shows what percentage of a company's assets are financed by debt. Compare the current value with the historical chart and peer group to understand leverage over time.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | DEBT TO ASSETS RATIO |
|---|---|
| 2026-06-30 | 48.28% |
| 2026-03-31 | 47.83% |
| 2025-12-31 | 39.21% |
| 2025-09-30 | 29.31% |
| 2025-06-30 | 28.48% |
| 2025-03-31 | 27.97% |
| 2024-12-31 | 25.47% |
| 2024-09-30 | 29.23% |
| 2024-06-30 | 31.39% |
| 2024-03-31 | 33.28% |
| 2023-12-31 | 34.09% |
| 2023-09-30 | 37.09% |
| 2023-06-30 | 39.04% |
| 2023-03-31 | 38.77% |
| 2022-12-31 | 38.09% |
| 2022-09-30 | 39.74% |
| 2022-06-30 | 38.44% |
| 2022-03-31 | 23.38% |
| 2021-12-31 | 18.57% |
| 2021-09-30 | 19.21% |
| 2021-06-30 | 19.82% |
| 2021-03-31 | 21.32% |
| 2020-12-31 | 23.25% |
| 2020-09-30 | 25.94% |
| 2020-06-30 | 28.38% |
| 2020-03-31 | 30.64% |
| 2019-12-31 | 29.00% |
| 2019-09-30 | 31.17% |
| 2019-06-30 | 9.79% |
| 2019-03-31 | 11.33% |
| 2018-12-31 | 4.81% |
| 2018-09-30 | 6.25% |
| 2018-06-30 | 8.76% |
| 2018-03-31 | 10.44% |
| 2017-12-31 | 12.81% |
| 2017-09-30 | 14.82% |
| 2017-06-30 | 16.72% |
| 2017-03-31 | 17.34% |
| 2016-12-31 | 18.51% |
| 2016-09-30 | 5.66% |
| 2016-06-30 | 7.13% |
| 2016-03-31 | 7.26% |
| 2015-12-31 | 3.40% |
| 2015-09-30 | 0.00% |
| 2015-06-30 | 3.34% |
| 2015-03-31 | 4.39% |
| 2014-12-31 | 2.94% |
| 2014-09-30 | 2.94% |
| 2014-06-30 | 0.00% |
| 2014-03-31 | 0.00% |
| 2013-12-31 | 0.00% |
| 2013-09-30 | 0.00% |
| 2013-06-30 | 0.00% |
| 2013-03-31 | 0.00% |
| 2012-12-31 | 0.00% |
| 2012-09-30 | 0.00% |
| 2012-06-30 | 0.00% |
| 2012-03-31 | 0.00% |
| 2011-12-31 | 0.00% |
| 2011-09-30 | 0.00% |
| 2011-06-30 | 0.00% |
| 2011-03-31 | 0.00% |
| 2010-12-31 | 0.00% |
| 2010-09-30 | 0.00% |
| 2010-06-30 | 0.00% |
| 2010-03-31 | 0.00% |
| 2009-12-31 | 0.00% |
| 2009-09-30 | 0.00% |
| 2009-06-30 | 0.00% |
| 2009-03-31 | 0.00% |
| 2008-12-31 | 0.00% |
| 2008-09-30 | 0.00% |
| 2008-06-30 | 0.00% |
| 2008-03-31 | 0.00% |
| 2007-12-31 | 0.00% |
| 2007-09-30 | 0.00% |
| 2007-06-30 | 0.00% |
| 2007-03-31 | 0.00% |
| 2006-12-31 | 0.00% |
| 2006-09-30 | 0.00% |
| 2006-06-30 | 0.00% |
| 2006-03-31 | 0.00% |
| 2005-12-31 | 0.00% |
| 2005-09-30 | 0.00% |
| 2005-06-30 | 0.00% |
| 2005-03-31 | 0.00% |
| 2004-12-31 | 0.01% |
